LFS Owners/Manager: Book loan/rental program

[914]

Whilst reading this excellent thread:
http://reefs.org/phpBB2/viewtopic.php?t=16492

flameangel's comment struck a chord with me. Those of us that happen to be 'car guys' as well as 'fish guys' (gals included in both) will probably be familiar with this concept, as many local car-parts stores do this to great effect.

Could some of the LFS (obviously the better, reef-oriented ones) establish a book-loan program? Of course, if you just let people sign out the book you'll loose them all in short order, but how about having folks pay for them?

Essentially, you set aside one (or more) copy of each book that's to be in the program. When someone wants to 'borrow' it, you charge them the full retail value of the book. When they return the book, you return the money.

Parts stores do this all the time with specialized tools like water-pump pulley pullers or cylinder hones. You could buy the tool brand-new in it's packaging for $50 (whatever) or you can buy a 'used' tool for the same money and have a guarantee that they'll happily accept it back from you the next day/week when you're done with it.

To prevent people for just keeping them for a long time (tieing up your lending-inventory and preventing others from benefiting) you can say that after.... say 30 days, the refund is in store credit only, not cash or CC chargeback.

Anyhow, i'm sure others can come up with the details better than i, but it does seem to me that something like this might produce a better-educated customer base, and one that's likely to spend more money to boot! i bet a lot of folks will end up buying those books outright after having them for a few days...

 

[flameangel1]

914,,

You have a good idea there,
unfortunately I do not think it will work in this hobby.

For example, I make up and pass out to ALL customers (and lookers also), flyers on "water parameters".
Next week or next month etc,
someone will ask me "what should my ph be?"
I ask " I am sorry,didn't I give you one of my water parameter flyers?"
Answer, "yes-but I didnt' read it yet".

The flyer is only one page typed in 12pt , and is in very basic wording.
Would have taken all of 2 minutes to read at most !!!!

The good books in this hobby run between $50 to $100 each,
I have and do loan them out, but have "lost" over half of them.

The few people willing to actually pay for a book ,
get them from the internet.
Most of us LFS can not beat the internet prices.

Personally, I want to read a book and keep it for reference.
But, then again I do buy books-LOL !!

But, maybe your idea would work in a bigger town/city.
I like it, and wish it would work here.

 

[Anonymous]

914,

Don't know if you have a reef club in your area, but ours actually has a library of books comprised of those donated by memebers and the LFS that holds/sponsers our meetings. Members are free to borrow the books under the condition they bring them back at the next meeting (and if they don't, they hear about it ). Some of the dues we pay also helps to add new books to the library as well. Just another option.

 

[liquid]

When I was in NC, I stopped in @ Marine Ecosystems and noticed that Rich had a whole library setup in the back for his customers. Basically, any customer could come in, kick back in an old couch/chair and read to his/her heart's content. The books couldn't leave the store, but they were welcome to read them as much as they wanted *in* the store. I've often wondered why more LFS' don't do that...

Shane

 

[reefsRcool]

that is a darn fine idea!! best case senario your customers get more educated, worst case you sell more books by default. i think you may be onto something. hey MATTM whatta ya think? might cut down on my perstering tom time

 

[914]

flameangel:

Well, people are funny... they often feel that 'free advice' is worth what they paid for it, no matter the source or the value. Besides, the good books (Fenner's Conscientous...) are a lot more fun to read than a help sheet.

Of course some of your books never came back, but the beauty of the parts store's tool "Loan Program" is that they aren't really loaning them at all. The tools are sold, at full retail price.

Now... most people, once they've used the ridge reamer or harmonic balancer removal tool don't really want to keep it around to look at (unless they're me... but i'm a little wierd! ;-). Books on the other hand.... i'd bet that fully 50% of the people who "borrow" Fenner's book (after giving you the $50/whatever 'deposit', ie the full retail value) won't return it.

Which is fine! You've just sold another book, and now have a vastly more educated customer. On the other hand, if (s)he returns the book, that's great! You just "loan" it to the next person.

SKBok:

Yah, the local club sort-of has a library, i think... but frankly i go to the LFS more often than i do club meetings (they're only quarterly) and besides, the real target here is the guy who just came into the store and bought $N worth of setup, but doesn't want to spend the bux to educate himself with some reference material. He gets to read the books for nothing, if he wants to return them. Otherwise, the LFS has just sold a book to someone who will (hopefully) make better/more purchases in the near future!

The folks that are in reef clubs are generally more educated than most, this would target those folks who've yet to join a local club. i suspect lots (the vast majority) of reefers never get involved with their local clubs.

 

[MattM]

We sell a wide variety of books, and our prices are about the same as Amazon (if you count shipping). We also have an extensive shelf of store-use books that customers are welcome to browse through, but they are kept behind the counter.

Your idea has merit I think. I will have to contemplate the details.